There is no section in Ohio Revised Code Chapter 4735 that clearly states that the broker is responsible for overseeing the management of the business or supervising the activities of affiliated salespersons. However, it has historically been the position of the Division of Real Estate and the Ohio Real Estate Commission that such duties exist. This policy is supported by the very nature of the two-tiered licensure system established in Chapter 4735.
- This administrative rule prohibits a broker from lending or leasing his license to a business so that it may become a licensed brokerage.
- This section provides that if a broker enters into such an arrangement and fails to “personally oversee and direct the operation of the business,” he is engaging in misconduct and can be disciplined by the Ohio Real Estate Commission.
- It should be noted that this provision does not prohibit a broker from delegating management or supervisory duties to branch, office, or sales managers. However, it does establish that the broker must exercise ultimate oversight and supervisory control of his business.